Panacea Biotec’s promoters have entered into a family agreement under which they plan to demerge the company’s real estate business into a separate firm. The company’s real estate arm, Radhika Heights, would be managed by Ravinder Jain and may become a separate listed entity. On the other hand, the pharmaceutical formulation and vaccine business will continue to be managed by promoters Soshil Kumar Jain, Rajesh Jain and Sandeep Jain.
The promoters -- Soshil Kumar Jain, Ravinder Jain, Rajesh Jain and Sandeep Jain have entered into a Memorandum of Acknowledgement of Oral Family Settlement (Memorandum) with regard to the overall control and management of the company and its subsidiaries.
Panacea Biotec is a leading biotechnology company with established research, manufacturing and marketing capabilities. It is one of the largest vaccine producers and leading Biotechnology Companies in India.
